Uniswap is an open source decentralized exchange protocol built on the Ethereum blockchain and operating under the management of smart contracts. Uniswap leaves behind the traditional architecture of the digital exchange, since there is no order book. The protocol works with the design of Constant Product Market Maker, which is a variant of the model called Automated Market Maker (AMM).

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4/ But Permit2 doesn't just save gas, it also improves security for users 🔒

With expiring approvals, Permit2 introduces time-bound allowances ⏰

So users sign approvals for specific time frames, not blank checks

This also means users don’t necessarily need to revoke…

4/ But Permit2 doesn't just save gas, it also improves security for users.

5/ Diver deeper into Permit2.

1/ If you’ve ever swapped onchain, you’ve signed an approval transaction ✅

While approvals are required for swapping, they can be expensive and risky

That’s why we created Permit2 🧵

1/ If you've ever swapped onchain, you've signed an approval transaction.

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